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USDOn Wednesday, Federal Reserve officials said the shedding of the $4.5 trillion in bonds the central bank is holding on its balance sheet are expected to begin this year, according to the summary text. However, some Federal members urged the Fed to wait until the U.S. economy touches the particular target.

In addition, the Fed did not conceal its worries over the political and economic uncertainty of the new US administration and its effects on the U.S. economy.

The U.S. dollar index (DXY), which measures the greenback against a basket of currencies, declined slightly yesterday and settled at 100.35 pips.

GoldGold prices boosted yesterday as the U.S. ISM Manufacturing fell to 55.2, the lowest level since October. The precious metal is trading at $1,255 in anticipation of the meeting between leaders of the United States and China.

Oil Oil prices declined yesterday after the U.S. government reported a weekly increase in the U.S. crude oil inventories of 1.6 million barrels.

DisclaimerThe prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM Capital Limited. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.

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